Palm rangebound on firmer Dalian soyoil; weak crude, olein weighs

Malaysian palm oil futures traded within a narrow band on Monday, according to Business Recorder, as firmer soyoil prices in Dalian gave the market some support. Weaker palm olein and softer crude oil, however, held prices back during the session.

Early in the session, the Bursa Malaysia Derivatives Exchange benchmark for December delivery climbed 15 ringgit, up 0.31%, to 4,913 ringgit ($1,205.64) per metric ton. The gain was small, which fits the rangebound trading seen on Monday. The dollar equivalent is also given, which helps readers outside Malaysia compare the price.

The contract had fallen 0.77% in the previous session, so the early advance came after a loss. The report names soyoil, palm olein and crude oil as the price drivers for the session.